STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long into the weekend.  A short-covering rally occurred in the last few minutes of trading Friday. This is important since the NYA moved above the 40-week MA at 7660 which is very bullish. The nature of the move, however, in the final minutes, on a short-covering bounce, does not immediately provide street cred for the bulls but if the NYA stays above 7660 all day Monday, that will.

The bulls are gaining momo due to the talk of global quantitative easing coming. Financials will play an important role next week and the quant is already scanning XLF with interest. Next week's areas of interest can be identified after the pre-scheduled Sunday number prints tomorrow. The caution flag would typically be removed since the bulls are running now, 22 points above the signal line, but, considering the importance of the Greece election results tomorrow, which may surprise bulls and bears alike, the caution flag remains out. 

6/17/12; 7:00 PM EST =

6/15/12; 3:55 PM EST = +0 signal line -22

6/15/12; 10:00 AM EST = -14 signal line -22